2) Cut up credit cards
3) Build an emergency fund for
unexpected expenses
4) Entertain yourself at home or by
hiking etc. rather than using expensive forms of entertainment
5) Spend less than you earn
6) Use cash for your purchases
7) When debt is paid off increase your
savings
8) Don’t use the government tax system
as a bonus plan, if they have your money they earn the interest and you do not,
your money should be working for you not the government
9) Use a realistic budgeting system that
works for you and live by it
10) If married, work on the budget together
and discuss any deviations from the budget plan
11) Read
Dave Ramsey’s “Your Money or Your Life”
12) Be patient, it takes time to get rid
of debt, but it’s worth it
13) Stop borrowing money no matter what
14) Track all of your expenses...I like to
use mint.com, but there are other useful tools
15) Maximize a retirement savings plan
16) Have a long range vision for your future
17) Examine your expenses and decrease
where possible, you will be surprised how well this works, negotiate with
cable, phone, and other providers
18) Don’t impulse purchase anything,
educate yourself on the alternatives before making a decision
19) Put a note in your wallet that says, “Do
I really need to buy this”
20) Think about debt as slavery and
savings as wealth-for-your-future
21) Improve your health to lower your
health costs with dentists and doctors
For more detailed information about this topic and others related to preparing for your future sign-up for my secure email group postings to the left of this blog.
For more detailed information about this topic and others related to preparing for your future sign-up for my secure email group postings to the left of this blog.
